Business / Economics Archives - Page 93 of 184

Africa’s mobility startups dethrone fintechs, scale new heights

By Conrad Onyango, bird story agency Africa’s mobility startups are having a moment. For the first time, these small businesses in transport and logistics have dethroned Fintechs in attracting the most investor funding on the continent. In another historic first, mobility startups are beginning to explore cross-border rental trips as they look to capitalize on growing intra-Africa tourism fuelled by the removal of visa requirements by some […]

22 August, 2024

Africa

Africa’s off-grid solar sector is electrifying global investors

By Bonface Orucho, bird story agency Africa’s off-grid solar sector continues to be a magnet for investment, with recent analysis from Africa: the Big Deal emphasizing its growing appeal to investors. Despite a general decline in start-up funding across the continent over the last two years, the industry remains a clear priority for both the social impact and regular investment community. According to Laura Fortes, the senior […]

22 August, 2024

Business / Economics

Fed minutes suggest rate cut on the cards

The Federal Reserve looks increasingly likely to cut interest rates at its next meeting in September. Minutes from the US central bank's July meeting, released on Wednesday, show most policymakers supported a reduction if inflation continued to cool. Here's the report with Sally Patterson.

22 August, 2024

Business / Economics

15-22 August Weekly Economics Wrap: Global Market Movements and Strategic Investments Highlight Weekly Economic Developments

Namibian Gold Exploration and Energy Developments Wia Gold's Exploration Success: Australian gold exploration company Wia Gold has announced significant progress at its Kokoseb gold project. Recent drilling efforts have confirmed the presence of existing gold zones, uncovered high-grade mineralization at depth, and identified a new mineralized area in the eastern zone. This marks a pivotal development in Namibia's growing mining sector. NAMCOR's Strategic Investments Pay Off: The National Petroleum Corporation […]

22 August, 2024

Africa

Niger Resumes Oil Exports via Benin After Dispute

Niger has restarted crude oil exports through Benin following a dispute that previously halted the flow via a Chinese-funded pipeline according to Reuters. The conflict arose from Niger's refusal to lift a ban on imports from Benin, leading to a block on exports through the PetroChina-backed pipeline in May. Niger had subsequently shut off the pipeline flow in June.

22 August, 2024

Business / Economics

22 August 2024 Morning Biz News: NAMCOR’s Breakthroughs and Global Economic Shifts: Namibia’s Economic Boom, South Africa’s Inflation Drop, and Market Trends

NAMCOR's Investment Boosts Economic Outlook NAMCOR's extensive drilling and investment efforts have paid off, with recent successes in the Orange Basin signaling a bright future for Namibia's economy. Interim Managing Director Ebson Uanguta revealed that after drilling 38 dry wells and investing over N$20 billion over the past three decades, Namibia is on track to potentially double its economy in the next 15 years. This achievement marks a significant […]

22 August, 2024

Business / Economics

Revised economic data shows U.S. jobs growth less strong than estimated

The US labor department has revised job growth numbers, finding in the year up until March, payrolls were overstated by around 818,000 jobs. That suggests job growth has been less positive than previously thought, although unemployment remains relatively low. As Caroline Malone reports.

22 August, 2024

Business / Economics

Bank of Namibia Supports Oil and Gas Sector with Flexible Exchange Controls

The Bank of Namibia affirms that the country's Exchange Control Policies and Laws are designed to foster a supportive investment environment for the emerging oil and gas sector. These policies facilitate foreign direct investments by allowing investors to bring in and repatriate funds through commercial banks, ensuring smooth operations in exploration and capital-intensive projects. Sandra Garises, the regulator's principal communication officer.

22 August, 2024

Business / Economics

21st August 2024 Morning Biz News: Telecom Namibia Boosts Network with N$100 Million Investment; Rand Weakens Ahead of Inflation Data

Telecom Namibia Invests N$100 Million to Upgrade Network Telecom Namibia is committing between N$90 million and N$100 million to enhance network quality and expand coverage across the country. This substantial investment includes upgrading several mobile sites from 2G to 3G and 4G technology. CEO Stanley Shanapinda highlighted that these upgrades are aimed at significantly improving network performance and accessibility for users nationwide. South African Rand Depreciates Ahead of Inflation Data […]

21 August, 2024